All Forum Posts by: Ryan Husser

@Tatiana Conta No worries! CoC in general isn't great as prices have exploded due to lack of demand in the last 12 months. Some areas such as Mesa, Apache Junction and parts or Glendale might get you close to 2-3% CoC for a longer term rental. But everywhere else you will be negative as rents just haven't quite kept up with prices. I would expect this to stabilize a bit in the next 12-24 months, but I don't see it slowing down anytime soon.

Hi Seth! 

Inventory is very tight in the Phoenix area, as well as AZ in general. For the most part there a not a ton of multi-family properties in the Valley, but they can be found in the Northern and Central Phoenix area. I think your strategy is sound with the FHA loan and B of A grant program, however getting a deal accepted with this financing will be a challenge. Many sellers are choosing 'all cash' offers or conventional with a sizable downpayment.

I would recommend locking on to an area first, seeing what types of properties there are first and then putting your offer in. In this market once you have the deal locked and loaded, as long as your numbers work, the rest should fall right into place. Good luck! 

Hi Tatiana! 

Most single-family homes in a decent area range between $350k-$450k. Harder to find a good deal, but they can be had. Good luck! 

Hi Chris! 

In this hot market most agents will not have the time to run the numbers for you. Their job as the agent is to bring you the property or deal and you as the investor need to decide if it fits your criteria for an investment. 

Good agents will help with having connections to property managers, contractors, etc. and know good areas to invest in. But outside of that you will need to run the on your own so they are accurate and correct. Hope this helps!  

Hi Ian! 

I've actually found Realtor.com's crime data very useful. So I would use it to flesh out a neighborhood early on, however I wouldn't completely base your deal off this data. If you are unfamiliar with the area I would recommend driving the neighborhood in person to get a feel before making any offers. After you visit you can rely more on your property manager and realtor to scope out properties as the neighborhood should be the same. Hopefully this helps!  

Hi Rodney! 

I have heard of this before, but not so much from a fellow agent. Just curious why you want to avoid the MLS altogether? Even off market, if an agent brings a buyer they will still want some sort of a commission.

Hi David! Sounds like it was a success! What was your biggest challenge on the rehab and how did you finance the deal? 

Hi Jane! 

I might need a little more context with what they plan to do after the mortgage is paid off. Are they wanting to take ownership of the property after the mortgage is paid or where they doing this as a 'gift' and letting you keep ownership? 

@Emily L. Wiersema This is super helpful! Thank you so much! 

Hi Victor! 

I would scout out and interview a some good realtors in both markets that have experience working with investors. They will be your best bet in finding good deals for you out-of-market. Hopefully this helps!